Competition among mass media
Competition among mass media
This paper investigates how mass media provide information to readers or viewers who have diverse interests. The problem of a mass medium comes from the fact that there is a constraint on how much information can be delivered. It is shown that the mass medium optimally provides information that is somewhat useful to all agents, but not perfect to anybody in particular. This benchmark model is then used to investigate competition among mass media with differentiated products. In the equilibrium of the example studied, mass media differentiate their news fully, as if they were monopolies on the subset of readers to which they tailor their news. However, prices are disciplined by competition.
mass media, product differentiation, news, cheap talk, quantization
1-39
University of Southampton
Kwiek, Maksymilian
84ba7dab-b54b-4d22-8cf3-817b2a2077cf
21 April 2010
Kwiek, Maksymilian
84ba7dab-b54b-4d22-8cf3-817b2a2077cf
Kwiek, Maksymilian
(2010)
Competition among mass media
(Discussion Papers in Economics and Econometrics, 1013)
Southampton, GB.
University of Southampton
39pp.
Record type:
Monograph
(Discussion Paper)
Abstract
This paper investigates how mass media provide information to readers or viewers who have diverse interests. The problem of a mass medium comes from the fact that there is a constraint on how much information can be delivered. It is shown that the mass medium optimally provides information that is somewhat useful to all agents, but not perfect to anybody in particular. This benchmark model is then used to investigate competition among mass media with differentiated products. In the equilibrium of the example studied, mass media differentiate their news fully, as if they were monopolies on the subset of readers to which they tailor their news. However, prices are disciplined by competition.
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1013_with_cover.pdf
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Published date: 21 April 2010
Keywords:
mass media, product differentiation, news, cheap talk, quantization
Organisations:
Economics
Identifiers
Local EPrints ID: 161637
URI: http://eprints.soton.ac.uk/id/eprint/161637
ISSN: 0966-4246
PURE UUID: d6ac41ea-638d-4b7f-b912-17e4d5a87103
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Date deposited: 03 Aug 2010 09:15
Last modified: 14 Mar 2024 02:00
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